NEWS BITES

A SOLID LONG-TERM BET
US-based diversified manufacturing multinational 3M will invest 400 million usd in its Mexico operations over the next five years. Projects include expanded output of products for the health, automotive and telecommunications industries at the company’s plant in the northeastern state of San Luis Potosí.

BUILDING GROWTH BRICK
BY BRICK
Danish toymaker Lego will invest 125 million usd to expand production capacity at its manufacturing plant in the northern state of Nuevo León. Lego has experienced double-digit sales growth in Mexico in recent years.

EXPANDED NETWORK
Mexican IT services provider RedIT will invest 12 million usd to extend its fiber optic network in key growth areas such as the cities of Guadalajara, Monterrey, Querétaro, Tijuana and Toluca. RedIT offers services such as data centers, fiber optic networks and IT infrastructure management.

MAGNA, ADDING
MANUFACTURING CAPACITY
Canadian auto parts manufacturer Magna International will invest 100 million usd to build three production facilities in the northern state of Coahuila. The added capacity is slated to produce auto seats for export and suspensions for domestic OEMs.

The Ministry of Communications and Transportation (SCT) reported that the Directorate General of Civil Aviation ( DGAC) is to become the Mexican Civil Aviation Agency, a decentralized body that will have the powers of the DGAC in terms of civil aviation and airport infrastructure and will begin operating 2014.

Continental, the German auto parts manufacturer, will invest 290 million pesos in the Research, Innovation, and Design Center in Jalisco, where it to expects to draw another 400 engineers and add 1,200 researches in the next three years.

LC Terminal Portuaria de Contenedores is engaged in a sustainability process within its facilities in the port of Lazaro Cardenas, to save and make more efficient use of energy, generate green energies and recycle water and inorganic waste.

Pemex is to invest 33.170 billion pesos in 2013 in the purchase of two mega ships of the floating production unit-type, to mix crude oil of different qualities.

Cemex, the Mexican cement giant, will place guaranteed senior debt for 1 billion dollars to obtain resources that will allow it to buy a portion of its guaranteed senior notes due in 2016. The bond was sold in dollars at a yield of 6.5 %maturing in 2019.

Beleki, a coffee and doughnut franchise in Mexico City, will be open five branches in Guadalajara, Jalisco with a investment of 3 million pesos and the creation of 20 direct and 25 indirect jobs

The structural reforms applied by the Mexican government and those still pending, could contribute up to 1.5 more percentage points to Gross Domestics Products ( GDP) growth.

Mexico could begin conversations on a possible free trade agreement (FTA) with Ecuador who is interested in negotiating the opening of all goods traded with Mexico and the inclusion of disciplines typical of (FTA).

Promexico, the Mexican agency of International Cooperation for Development (Amexcid) and the United Nations Children’s Fund ( Unicef ) signed a memorandum of understanding to coordinate actions to drive the participation of the Mexican business sector in supplying the post and offices of the United Nation (UN) with a presence in Mexico.

Employment in Mexico’s manufacturing industry rose 2.1% in the first quarter 2013 according to information from the INEGI.

One comment

  1. Economics is much like gravity – it moves to the lowest cost level. America today with high labor costs, a national debt of over $17 trillion and rising, taxes going up to pay for it, Obamacare, a nation with 104 nuclear power plants facing climate change and end of their useful lives, and a population with some half of third world people, the wealthy are moving to third world countries with a low national debt, taxes, labor costs and few ecological disasters – Say Viva La Mexico!.

    Also Mexico will not be going to war with any nation. One problem with the Mexican climate is that it is sunny most of the year. With its tropical jungles, the climate seems to be getting warmer as Earth is entering a new tropical age. Which means that the poor will be traveling to the cooler northern climates. With the age of robots upon us, the promise of America back in the 1950s that the future will be without work as robots will be doing most of the work for us..

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